Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK
Solar PV and battery energy storage (BES) costs for domestic consumers are constantly diminishing. On top of this, the end of the Feed-in-Tariff programme has significantly increased interest in combined PV + BES systems. In this paper, we explore the economics of domestic PV + BES systems, extendin...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-05-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/10/3732 |
| _version_ | 1797500083043827712 |
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| author | Quentin Raillard-Cazanove Edward Barbour |
| author_facet | Quentin Raillard-Cazanove Edward Barbour |
| author_sort | Quentin Raillard-Cazanove |
| collection | DOAJ |
| description | Solar PV and battery energy storage (BES) costs for domestic consumers are constantly diminishing. On top of this, the end of the Feed-in-Tariff programme has significantly increased interest in combined PV + BES systems. In this paper, we explore the economics of domestic PV + BES systems, extending the current literature on the topic via the use of a large smart meter dataset and a demographic comparison. Predictably, time-varying tariffs and higher electricity prices generally strengthen the economic arguments for PV + BES systems, however our consumption data yields a wide range of Net Present Values for different consumers. In terms of demographics, we find that batteries are more favourable for more affluent households due to their larger consumption levels, though profitability becomes more uniform if the batteries are tailored to individual households. This is an important point for policy, since it indicates that if PV + BES systems become widely profitable this is unlikely to help the financial situation of lower-income households. |
| first_indexed | 2024-03-10T03:56:46Z |
| format | Article |
| id | doaj.art-19d87bbafef94feab341493faf3bced5 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T03:56:46Z |
| publishDate | 2022-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-19d87bbafef94feab341493faf3bced52023-11-23T10:52:20ZengMDPI AGEnergies1996-10732022-05-011510373210.3390/en15103732Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UKQuentin Raillard-Cazanove0Edward Barbour1Centre for Renewable Energy Systems Technology, Loughborough University, Loughborough LE11 3TU, UKCentre for Renewable Energy Systems Technology, Loughborough University, Loughborough LE11 3TU, UKSolar PV and battery energy storage (BES) costs for domestic consumers are constantly diminishing. On top of this, the end of the Feed-in-Tariff programme has significantly increased interest in combined PV + BES systems. In this paper, we explore the economics of domestic PV + BES systems, extending the current literature on the topic via the use of a large smart meter dataset and a demographic comparison. Predictably, time-varying tariffs and higher electricity prices generally strengthen the economic arguments for PV + BES systems, however our consumption data yields a wide range of Net Present Values for different consumers. In terms of demographics, we find that batteries are more favourable for more affluent households due to their larger consumption levels, though profitability becomes more uniform if the batteries are tailored to individual households. This is an important point for policy, since it indicates that if PV + BES systems become widely profitable this is unlikely to help the financial situation of lower-income households.https://www.mdpi.com/1996-1073/15/10/3732PVbatteryNPVconsumer classificationsmart meter data |
| spellingShingle | Quentin Raillard-Cazanove Edward Barbour Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK Energies PV battery NPV consumer classification smart meter data |
| title | Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK |
| title_full | Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK |
| title_fullStr | Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK |
| title_full_unstemmed | Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK |
| title_short | Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK |
| title_sort | analysis of smart meter electricity consumption data for pv storage in the uk |
| topic | PV battery NPV consumer classification smart meter data |
| url | https://www.mdpi.com/1996-1073/15/10/3732 |
| work_keys_str_mv | AT quentinraillardcazanove analysisofsmartmeterelectricityconsumptiondataforpvstorageintheuk AT edwardbarbour analysisofsmartmeterelectricityconsumptiondataforpvstorageintheuk |